Traditionally, the technological and economic changes in the business environment took place in the US, Europe, and Japan, but today the emerging economies such as Brazil, Russia, India, China, and South Africa are playing a minor, but fast-growing role in such developments, writes Prasada Reddy in Global Innovation in Emerging Economies (www.idrc.ca). They have emerged not only as large potential markets, but also as noticeable competitors and attractive locations for strategic innovation activities, he observes.
While, at the moment, the emerging economies do not pose a significant direct threat to the industrialised countries, the author foresees that in the medium term, with the existence of large domestic markets and the availability of low-cost resources, some of the companies located in emerging economies are likely to narrow the technological and economic gap with the MNCs.
To read the full, original article click on this link: Business Line : Columns / D Murali : Narrowing the technological gap
